2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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25%
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29%
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32%
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36%
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Detailed explanation-1: -CONTRIBUTES ABOUT 29% TOWARDS THE GDP.
Detailed explanation-2: -According to the World Bank, MSMEs account for 90 per cent of businesses, 60-70 per cent of employment and contribute over 50 per cent of global GDP. However, in India, their contribution was around 29 per cent of GDP in 2022.
Detailed explanation-3: -The Indian MSME Sector The Micro sector includes 630.5 lakh enterprises, accounting for over 99% of the country’s total number of MSMEs. The Small sector includes 3.3 lakh enterprises (0.5% of total MSMEs), while the Medium sector includes 0.05 lakh enterprises (0.01% of total MSMEs).
Detailed explanation-4: -With the presence of over 63 million MSMEs employing over 110 million people staggered across services, manufacturing sector contributes nearly 30% to the GDP.